07 04 2016

Mount Olympus Mortgage Company v. Benjamin Anderson

Sidley trial lawyers obtained a significant victory on behalf of Mount Olympus Mortgage Company (“MOMCo”), dba TRU Mortgage, an Irvine-based mortgage bank, after a seven-week trial.


An Orange County jury returned the verdict based on the jury’s determination that a former licensed loan officer and several other former employees illegally transferred hundreds of private consumer loan files from MOMCo’s computer systems to a competitor, Guaranteed Rate Inc., one of the nation’s largest mortgage banks. Upon discovery of the data theft, MOMCo immediately sent cease-and-desist letters to the defendants, which were ignored, prompting MOMCo to report the illegal conduct to the California Attorney General and Orange County law enforcement investigators. MOMCo filed a civil lawsuit in late June 2014 and asserted claims against the former licensed loan officer for breach of contract, breach of fiduciary duty and fraud, and violations of California Penal Code Section 502(c), which covers the unlawful theft of computer data, as well as conversion and misappropriation of the confidential loan files. Given the substantial evidence brought to trial, the Orange County jury found the defendants liable on all counts and awarded punitive damages.  The case is Mount Olympus Mortgage Company v. Benjamin Anderson, No. 30-2014-00729438-CU-BT-CJC (Orange County Superior Court). The Sidley team serving MOMCo included lead trial counsel Chad Hummel (Century City), partner David Carpenter (Los Angeles) and associate Eric Schwartz (Los Angeles). Involved fees earner: David Carpenter - Sidley Austin LLP; Chad Hummel - Sidley Austin LLP; Eric Schwartz - Sidley Austin LLP;

LATEST ISSUE
Powered by Share Trading

POPULAR ARTICLES
LE FONTI AWARDS 2018 CELEBRATES CORPORATE EXCELLENCES IN HONG KONG

29/03/2018

On March 23rd 2018, the world’s leading corporate stars reunited for a special

LE FONTI AWARDS 2017 CELEBRATES CORPORATE EXCELLENCES IN DUBAI

14/12/2017

On December 14th, 2017, the world’s leading corporate stars reunited for a spec

LE FONTI AWARDS 2017 CELEBRATE CORPORATE EXCELLENCES IN LONDON

23/10/2017

On October 20th, 2017, the world’s leading corporate stars reunited for a speci

Le Fonti IAIR Awards Take Hong Kong By Storm

21/03/2017

Hong Kong has become a city of bright expansion, culture, and futuristic innovation. Fr

Will Brexit break London's place as FinTech Capital?

17/11/2016

Fintech, it’s described as the disruption in financial services pushed by consume